Great Little Modeler!
How much you enjoy this pedal probably depends on what you're looking for. As best as I can tell, Vox kind of intended this to be a "catch all" solution for guitar players. However, in my opinion, this thing really shines as an amp modeler.
In the church I play, we need to keep stage volume low, so I don't use a traditional amplifier. I had been using a POD HD300, but it was just too big and I needed to downsize. I picked up this little thing not really knowing what to expect. Conveniently, it fits right on my board, so not having a second device beside my board is very nice.
You'll want to make sure you read the manual. The controls on this are a little obtuse, and it's not very clear what you're actually doing just by reading the little display. And I may as well address this while I'm talking about it: yes, the factory presets are atrocious. I'm not sure who they hire to make these things, but most of them have WAY too many effects on them and are just totally unusable.
I really didn't experiment much with the various effects available. They're decent, I suppose, but why bother when I already have pedals that do it better and without the clunky controls? The amp models on this thing are very good. I've always used Vox amp models even on my HD 300 and this unit does them justice. The models sound great, and add some much needed life to your tone!
I didn't spend much time messing with the other amps, because some of them sound so crazy that I don't know why you'd ever want them in an amp modeler. If you want crazy distortion that destroys your tone, wouldn't you just buy a real amp? Regardless, I'm happy with it. It serves as my "faux" amp at the end of my chain, and I highly recommend it to anyone in a similar situation as me.